The ICOA Inc (OTCMKTS:ICOA) stock was in the middle of a massive rally on Monday after the company provided a key corporate update. The company, which is involved in providing wired broadband internet networks and wireless ones across the United States, announced yesterday that it was on the verge of concluding the submission of the disclosure as well as financial statements so as to achieve Pink Current Status on the OTC Markets. The stock rallied by as much as 38% after the update.
The company informed that the statements were being uploaded. That was an important announcement from the company and considering the immediate implications for the ICOA stock upon getting the Pink Current Status, it was no surprise that the stock rallied.
Yesterday, investors piled on to the ICOA stock in a big way and it ended the day with gains of as much as 38%. In this regard, it should be noted that the company is looking to be in compliance with the 15C-211 rule by uploading the statements as well as an attorney letter and ICOA believes that it will be complete all this by the end of August. It now remains to be seen if investors continued to pile on to the stock in the coming days.